When running a project or a contract, should material and sub-contract costs be recorded on the p&l or on the balance sheet as WIP.

X is a freelance journalist who received an hardship grant from his professional body.  He has other taxable income, which when added to the ...

With less than a month until the tax return window snaps shut, busy accounting firms are already contemplating whether a ...

The Financial Reporting Council (FRC) has expressed a desire for the whole audit market to “work more effectively for those who rely on it” as part ...

Hello. Have tried to find answer to this but been unsuccessful so hoping to get some clarity on here.

We are now halfway through Self-Assessment season, and for many accountants, it feels like the calm before the storm, or perhaps the storm ...

Company is looking to pay an employee £120 per night for a five night business trip to Japan. As this is about twice HMRC's 24-hour subsistence ...

A furnished holiday let existed for many years.  Ownership is 50/50, but for tax return purposes owner1 elected to report profits and losses.  Owner 1 ...

Seth Moffett Russell was the sole director/shareholder of Avenir EMS Ltd (AEMS) and in February 2023, HMRC issued a Notice of Requirement (NoR) ...

Helping out a client that looks to have an old petty cash balance, just under £450 but it wasn't reconcilied for 2-3 years and keeps being carried ...

I have a question that was posed to me that I am struggling to find an answer to given my lack of exposure to Goodwill and IP deductions.

Wife elected to reduce her MA (ie that 10% of a PA be transferred to her husband). The husband is a BR taxpayer in 22/23 and 23/24 and will probably be in 24/25. HMRC have written to the wife to say: ...